Time Warner Approves AOL Spin Off
Time Warner hopes to conclude the spinoff, which requires an SEC review, by the end of the year. The company also expects to buy back Google’s 5 percent stake as part of completing this transaction but there is no confirmation that Google has agree to the terms or whether a agreed-upon valuation has taken place.
I’m sure AOL CEO Tim Armstrong is licking his chops at the news. Now we’ll get to see what he’s made of.